May 15 (Bloomberg) -- Tiger Global Management LLC, the $14 billion investment firm run by Chase Coleman, increased its stakes in industrial companies last quarter and reduced holdings of technology firms.
Tiger bought 3.9 million shares of car-rental company Avis Budget Group Inc., which had a market value of $190 million as of March 31, according to a filing with the U.S. Securities and Exchange Commission today, and 1.64 million shares of real- estate data firm Zillow Inc. worth $144 million. The New York- based firm exited its stakes in Yahoo! Inc., Amazon.com Inc. and Netflix Inc.
Tiger Global, started in 2001 by Coleman, has two business lines -- hedge funds, and private equity and venture capital -- each with about $7 billion in assets. The value of the firm’s investments in industrials rose 5.2 percent last quarter while the value of its information technology holdings declined by 3.8 percent, according to data compiled by Bloomberg.
Money managers who oversee more than $100 million in U.S. equities must file a Form 13F within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges, as well as options and convertible debt. Hedge funds are lightly regulated pools of capital whose managers can invest in any asset and share in annual profits.